AJK govt presents over Rs163 bn budget for FY2022-23

MUZAFFARABAD: Azad Jammu and Kashmir government presented the budget for the next fiscal year with a total outlay of over Rs163 billion.

Minister for finance Abdul Majid Khan presented the budget for coming fiscal year and revised estimates for current fiscal year in the legislative Assembly in the absence of opposition members who boycotted the session and protested in front of building against government’s policies.

AJK Finance Minister Abdul Majid Khan said total revenue has been projected to the tune of over Rs170 billion. He said Rs135 billion have been proposed for ongoing expenditures while 28 billion rupees for new development schemes.

The Finance Minister said 62 percent funds have been proposed for ongoing 389 schemes while 38 percent for 263 new schemes.

He said that 69 percent of the ADP will be spent on the development of infrastructure, 12 percent on the production sector, and 19 percent on social sector schemes. An increase of 15% in pensions and salaries of government employees has been announced.

In ADP for next fiscal year, preference had been given to communication department with highest allocation of Rs12 billion while Rs3.3 billion has been allocated for housing and physical planning.

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The minister said Rs2.17 billion had been allocated in ADP in next fiscal year for education department and Rs1.8 billion for health department.

He told the house that 19 percent fund in ADP in the coming fiscal budget had been allocated for social sector, 12 percent for production sector and 69 percent for infrastructure development.

Total income from revenue for the next fiscal year has been estimated Rs36.5 billion including Rs25.89 billion from income tax and Rs10.61 billion in the head of other taxes.

The government will receive Rs74.32 billion in the head of variable grants, Rs25.13 billion in the head of state revenue, Rs700 million in the head of water use charges and Rs700 million as capital receipts (loan and advances).

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